Malaysia Inc policy to be revived: Tun M

CYBERJAYA: The government will revive the Malaysia Incorporated policy to enhance close cooperation between the government and the private sector, said Prime Minister Tun Dr Mahathir Mohamad.

He said the government is committed towards providing a stable business environment for investors and added that various agencies will be involved.

“Through various agencies involved in foreign investment promotions such as the Malaysian Investment Development Authority, Invest KL and Malaysia Digital Economy Corporation, the government has established necessary measures and facilities for the smooth running of foreign investment projects.”

In his keynote address at a dialogue organised by the Malaysian French Chamber of Commerce and Industry here yesterday, Mahathir said the government is focused on creating a stable economy, implementing good fiscal discipline as well as good governance, ensuring transparency in doing business, removing corruption and launching institutional reforms since it took over the administration on May 10, 2018.

He said the country’s economy has been forecast to grow by 4.8% this year despite ongoing challenges.

“With good fiscal discipline, our budget deficit will narrow to 3.2% this year.”

The prime minister also noted the importance of talent management.

“The development of education is a priority to ensure we produce the right Malaysian talent for the 21st century or the digital age.

“We also welcome expatriates and foreign talent and remain very generous with the various employment and resident passes for those who are highly skilled.”

He added many infrastructure projects have been completed or upgraded in the Klang Valley and other parts of the country.